Webfirm (WFM)

Web design and marketing business Webfirm Group has been on a general downward trajectory since peaking at 52.8¢ in 2007. It told investors last month that it was conducting a strategic review of the
Webfirm
division which develops websites for small and medium sized businesses. It said the division’s losses to date had been driven by its “inability to profitably compete" in its market. As part of the review, it has written down the value of Webfirm’s goodwill to zero on its books. The company said its other operating division, Adslot, which sells automated ad sales platforms to online classified portals worldwide, had a strong future and growth opportunities. Shares in the company, whose acting chief executive, Andrew Barlow, and non-executive director, Chris Morris, own 8.4 per cent of the equity respectively, are now trading close to their lows at around 8¢.